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2014 (9) TMI 1203 - HC - Income TaxAllowability of marketing expenses - nature of the arrangement between the assessee company and the brand owners whereby the assessee was saddled with such marketing expenses - HELD THAT:- Appeal is, therefore, admitted on the following substantial questions of law. 1. Whether on the facts and in the circumstances of the case, the ITAT was correct in law in allowing the assessee's claim of marketing expenses for the period from 01-12-1997 to 31-8-1998 incurred by the assessee of ₹ 29,22,88,006/- disallowed by the assessing officer under section 37(1) of the Income Tax Act, 1961, the expenditures being not wholly and exclusively for the purpose of business of the assessee ? 2. Whether on the facts and in the circumstances of the case, the ITAT was correct in law in not appreciating the true nature of the arrangement between the assessee company and the brand owners whereby the assessee was saddled with such marketing expenses which are in fact and for all intent liability of the foreign company owning the brands and the trademarks ?
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